Arctos Anthracite Project

This project has recently undergone a name change from Mount Klappan Anthracite Metallurgical Project to Arctos Anthracite Project. The Arctos Anthracite Project is one of the largest undeveloped deposits of metallurgical coal in the world.

About This Project

Fortune Minerals Limited (TSX: FT) is focused on the development of high quality mineral resource projects in Canada with the potential to generate strong returns for its shareholders. The Arctos Anthracite Project, formerly Mount Klappan Anthracite Metallurgical Coal Project, is a proposed anthracite coal mine located in northwest British Columbia. Actos Anthracite Joint Venture, formed between Fortune Minerals as an 80% owner and POSCO Canada as a 20% owner, combines Fortune's local development and operations expertise with POSCO's market knowledge and financial backing. Arctos Anthracite Joint Venture has proposed a 4000 ha mine site capable of producing 3 millions tons of high quality anthracite coal annually, over a 25 year mine life.

Anthracite is an ultra high grade coal which accounts for 1% of global coal reserves. Due to its superior carbon content and energy qualities, it is in high demand for metallurgical processes such as steel manufacturing, as well as for other industries. Once mined and processed, anthracite can be transported by rail from the Arctos mine site to Ridley Terminals in Prince Rupert where it can be shipped by sea to global markets. In order to achieve this, a further 147km of rail line is required to be built from the current terminus to the mine site. This construction project is included in the overall scope of the mine development.

Arctos Anthracite Joint Venture is committed to working with surrounding communities, First Nations and other stakeholders in all stages of the project to ensure that local input is included in development decisions. In particular the Arctos Anthracire Joint Venture is working to ensure the project meets cultural and environmental protection standards as defined by the Talhtan and Gitxan peoples.

Currently, the Arctos Anthracite Project is under review with the BC Environmental Assessment Office. When operational, Arctos Anthracite Joint Venture will employ an estimated 500 employees to operate the mine.